This morning, today's candle was red clear down to the 200sma. Not what a long position holder wants to see. By the close today it managed to shrink back up to close higher than yesterday's open. As usual there's good news and bad news.
Good news is that price could barely do more than touch the 200sma. Also it closed within the possible up channel. And of course the close so much higher than the low. In addition, since today's candle body doesn't fit within yesterday's candle body, these 2 candles don't form a bearish pattern.
Bad news is that price closed under the 8ema today, and of course it was a serious red candle when we were expecting a green candle today.
Feeling very fortunate and grateful my stop loss wasn't triggered today, which could have easily been the case. Holding the position and looking forward to see what happens tomorrow.
No comments:
Post a Comment